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I have the 1G iPod touch and my son has the second. Though the speaker in his is very nice, and better yet, convienent when you want to check a song on iTunes or something, the device seems cheaper. It may be me, but it just doens't feel as solid in my hand as my iPod touch. I felt the same way about the new iPhone versus the old.
 
New product revisions are often to do with cost cutting, so I wouldn't be surprised.
I don't have a touch or an iphone, so can't comment on those.
 
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